One of the most important decisions that every entrepreneur needs to take when starting a business has to do with the election of a shop and all risk factors that revolve around it.And no wonder , since success or failure of a business in a lot has to do with the proper selection and site location for it.Today I share at least 10 tips you can not omit to make the smartest decision.
Tips for Choosing the Commercial For Your Business
1. When should I think about a shop?
The first thing to consider is that not all businesses need a local or office, at least initially. And indeed depending on the type of business you do, you can consider using your house, your garage or a space that a family member or acquaintance you offer for a symbolic rent.
A local income should consider it only when you have some savings to cover the costs of installation and when your business has enough structure to open its doors and sustain the pressure to generate sales.
Of course, there are some types of businesses which have a formal place is imperative, for them, the following tips are essential.
2. Buy or rent a home?
Although it seems obvious, the answer to this question for every entrepreneur is to start renting a local, as this will allow you to minimize risk while your business grows enough to expand and then consider buying a separate room. Rent a room also lets you know your business and your market while you grow gradually.
3. What are the advantages of renting a local?
The main and most important when renting a local is that you work with temporary contracts (usually for periods of 1 or 2 years) allowing you to assess whether the local gives you the benefits you expect in terms of location, size and cost and if I need it to make changes as required.
4. How much should you pay for an income?
This is an important question, but the best way to answer it is through a budget . Not all businesses are the same or have the same costs and the same profits. An overpaid income can easily devour your profits and destroy your business.
While rental costs are often high, we could say that a good measure of reference for calculating local investment should not exceed 30% of the monthly operating budget of your company.
5. What it is a good location for my local?
The proper location of the premises can make the difference between many customers or few customers. This especially applies to the types of businesses where the customer looks for your store or is attracted by the presentation and image of your business. Some other important factors to consider are ease of access from a vehicle, parking available, security and above all you are located in the economically correct sector.
6. What other costs should I consider?
The basic costs to consider when renting your local variables that are important to budget costs are contracted costs, adequacy of local telephone lines, Internet, transfers, etc. should also make sure to what amount previously fixed costs monthly services such as electricity, water, security, alarms, maintenance, etc.
7. Is it better to locate my local in a mall or in a popular neighborhood?
This should be evaluated in cost-benefit ratio. Place you in an attractive shopping center may represent increased sales but also higher costs. While placing your business in your neighborhood may be cheaper but it could also mean fewer sales.
In addition, shopping centers tend to be much stricter in terms of employment, hours, holidays and other conditions that must be carefully evaluated.
8. How do I know if I’ll have customers?
This question represents in itself a comprehensive marketing theme. But simplifying say, if you are selling footballs, do you offer in a skating rink? Of course not !!
Soccer balls should be sold in stadiums, centers, and football academies. Knowing whether your business will have customers and even more if customers will be desired is a subject that requires much more than a simple yes or no. You must analyze, make a study of basic market and advocacy work that can be inexpensive .
9. Should I seek a corner?
Choosing a good shop has to do with several factors. For example corners are excellent locations for business because they regularly place excellent visibility. Whether in shopping centers or in popular shopping areas, it is located strategically can make a difference in earnings.
10. How much competition there is in this area?
Be near your competition can be a double-edged sword. You can push you to handle a volume strategy by low prices, which can seriously affect your profits or can be a benefit considering that your competitors have already created a market that can easily be attracted if you offer better products, attention, and price.
As it is something that should be carefully considered so as not to lose out on the play.
Finally, some additional small but no less important when choosing the business premises for your business tips are:
- Try to be on time and met your income . The accumulation of income debt can become rampant and undesirable burden will not want for the health of your business.
- Try to locate yourself near where there are other businesses that generate traffic . For example supermarkets, banks, schools, pharmacies, factories or hospitals. The union helps develop the area commercially and your business will bring significant value to other businesses in the sector.
- The location is not everything. Remember that once you’re well located, must work hard to develop the image of your company, a marketing strategy and promotion to attract customers to your business and keep them coming back.